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U.S. - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights
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U.S.: Virgin Olive Oil Market Overview 2021

Virgin Olive Oil Market Size in the U.S.

After nine years of growth, the U.S. virgin olive oil market decreased by -X% to $X in 2019. Over the period under review, the total consumption indicated a perceptible increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the market value increased by X% against the previous year. Virgin olive oil consumption peaked at $X in 2018, and then dropped in the following year.

Virgin Olive Oil Production in the U.S.

In value terms, virgin olive oil production dropped modestly to $X in 2019. Overall, production showed significant growth. The growth pace was the most rapid in 2008 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2019, production remained at a lower figure.

Virgin Olive Oil Exports

Exports from the U.S.

In 2019, shipments abroad of virgin olive oil decreased by -X% to X tonnes, falling for the third consecutive year after two years of growth. In general, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2011 with an increase of X% against the previous year. Exports peaked at X tonnes in 2016; however, from 2017 to 2019, exports remained at a lower figure.

In value terms, virgin olive oil exports reduced to $X in 2019. Overall, exports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2011 when exports increased by X% against the previous year. Over the period under review, exports attained the peak figure at $X in 2016; however, from 2017 to 2019, exports remained at a lower figure.

Exports by Country

Canada (X tonnes) was the main destination for virgin olive oil exports from the U.S., with a X% share of total exports. Moreover, virgin olive oil exports to Canada exceeded the volume sent to the second major destination, Panama (X tonnes), threefold. The third position in this ranking was occupied by Mexico (X tonnes), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume to Canada totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+X% per year) and Mexico (+X% per year).

In value terms, Canada ($X) remains the key foreign market for virgin olive oil exports from the U.S., comprising X% of total exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total exports. It was followed by Panama, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to Canada amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+X% per year) and Panama (+X% per year).

Export Prices by Country

In 2019, the average virgin olive oil export price amounted to $X per tonne, which is down by -X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 an increase of X% y-o-y. The export price peaked at $X per tonne in 2014; however, from 2015 to 2019, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Turkey ($X per tonne), while the average price for exports to Panama ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Turkey, while the prices for the other major destinations experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports into the U.S.

In 2019, approx. X tonnes of virgin olive oil were imported into the U.S.; remaining constant against 2018. The total import volume increased at an average annual rate of +X% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of X% y-o-y. Imports peaked in 2019 and are likely to see steady growth in years to come.

In value terms, virgin olive oil imports contracted to $X in 2019. Overall, total imports indicated a perceptible increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when imports increased by X% year-to-year. Over the period under review, imports reached the peak figure at $X in 2018, and then contracted in the following year.

Imports by Country

Spain (X tonnes), Italy (X tonnes) and Tunisia (X tonnes) were the main suppliers of virgin olive oil imports to the U.S., together accounting for X% of total imports. Greece, Argentina, Turkey, Chile and Portugal lagged somewhat behind, together accounting for a further X 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Chile, while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Spain ($X) and Tunisia ($X) appeared to be the largest virgin olive oil suppliers to the U.S., with a combined X% share of total imports. These countries were followed by Greece, Argentina, Chile, Turkey and Portugal, which together accounted for a further X saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the average virgin olive oil import price amounted to $X per tonne, with a decrease of -X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per tonne in 2017; however, from 2018 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Italy ($X per tonne), while the price for Turkey ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Italy, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for virgin olive oil in the world?
+
Spain (1.1M tonnes) constituted the country with the largest volume of virgin olive oil consumption, accounting for 31% of total volume. Moreover, virgin olive oil consumption in Spain exceeded the figures recorded by the second-largest consumer, Italy (542K tonnes), twofold. The U.S. (266K tonnes) ranked third in terms of total consumption with a 7.2% share.
What are the largest producers of virgin olive oil in the world?
+
Spain (1.9M tonnes) constituted the country with the largest volume of virgin olive oil production, accounting for 51% of total volume. Moreover, virgin olive oil production in Spain exceeded the figures recorded by the second-largest producer, Greece (329K tonnes), sixfold. Tunisia (287K tonnes) ranked third in terms of total production with a 7.8% share.
What are the leading suppliers of virgin olive oil to the U.S.?
+
In value terms, Italy ($424M), Spain ($374M) and Tunisia ($82M) appeared to be the largest virgin olive oil suppliers to the U.S., together comprising 84% of total imports. Greece, Argentina, Chile, Turkey and Portugal lagged somewhat behind, together accounting for a further 12%.
What are the leading importers of virgin olive oil from the U.S.?
+
In value terms, Canada ($6.4M) remains the key foreign market for virgin olive oil exports from the U.S., comprising 41% of total exports. The second position in the ranking was occupied by Mexico ($1.7M), with a 11% share of total exports. It was followed by Panama, with a 3.8% share.
What is the average export price for virgin olive oil in the U.S.?
+
In 2019, the average virgin olive oil export price amounted to $3,670 per tonne, which is down by -6.1% against the previous year.
What is the average import price for virgin olive oil in the U.S.?
+
In 2019, the average virgin olive oil import price amounted to $4,138 per tonne, with a decrease of -13.3% against the previous year.

Product coverage:
• FCL 261 - Oil of Olives, Virgin

This report provides an in-depth analysis of the virgin olive oil market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• USA

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the U.S.
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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